Answer:
$828.53
Explanation:
The formula is: A = P(1 + r/k)^(kt)
A = 750(1 + 0.02/12)^(12*5)
A = 750(1 + 0.00166667)^60
A = 750(1.00166667)^60
A = 750(1.104713)
A = $828.53 (rounded to the nearest cent)
So, the accumulated amount after 5 years with a 2% interest rate compounded monthly is $828.53.